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Ask Victoria Anything · She's On The Money

0:00
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
0:04
Speaker 1: the Order KERNI Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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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
0:22
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
0:30
Speaker 1: today 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 Money, the podcast
0:59
Speaker 4: that's usually all about helping you master your money. But
1:02
Speaker 4: today it's not just a podcast. It's a game show.
1:05
Speaker 2: It's a game show.
1:06
Speaker 4: I don't know how this is going to go, but
1:07
Speaker 4: I'm actually really excited about it. Buckle up because this
1:10
Speaker 4: isn't ask V anything show. I'm your host, becksied and
1:14
Speaker 4: with me scared, I think you should be at all times.
1:18
Speaker 2: Yeah, okay, be prepared. I was a scout, so.
1:21
Speaker 4: Scouts always be terrified and worried, so today, our brave contestant,
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Speaker 4: May I please welcome to the stage, Victoria Device.
1:30
Speaker 2: Oh, thank you for having me on this game show
1:32
Speaker 2: that I didn't know was going to be a game show.
1:34
Speaker 2: I thought it was going to be a podcast.
1:35
Speaker 4: Thank you for joining me.
1:37
Speaker 2: Oh, thank you for having me. I'm ready.
1:39
Speaker 4: I'm sorry for just throwing this on you.
1:40
Speaker 2: No, absolutely, let's go. I love a good game show.
1:43
Speaker 2: What are we playing? And how much money do I
1:45
Speaker 2: get to win?
1:46
Speaker 4: I tell you what you get to win? Exactly zero dollars?
1:49
Speaker 4: But Ris, can you double it? I'll have to ask
1:52
Speaker 4: my producer.
1:53
Speaker 2: Okay, all right, Sorry, you're asking for a lot. I know,
1:56
Speaker 2: I know I've started yet.
1:58
Speaker 4: Okay, so this game is all about taking on the biggest, juiciest,
2:01
Speaker 4: trickiest money questions sent in by our amazing listeners. Do
2:04
Speaker 4: you think you're up for it?
2:05
Speaker 2: No? But also, let's go.
2:07
Speaker 4: I also have a few of my own.
2:08
Speaker 2: But okay, anyone, No, you can ask me anything.
2:11
Speaker 4: Apparently I was open to this amazing Okay, so let's
2:14
Speaker 4: jump straight into round one with our first question. So hypothetically,
2:18
Speaker 4: I'm twenty seven. Mentally I think.
2:19
Speaker 2: It'd be nice, wouldn't it.
2:21
Speaker 4: I've got one hundred k saved.
2:22
Speaker 2: Okay, yeah, that is very hypothetical.
2:25
Speaker 4: That is very hypothetical. I don'nate a property. Should I
2:28
Speaker 4: be investing in real estate or elsewhere? And at the
2:31
Speaker 4: same time, someone else wanted to know the potential pros
2:34
Speaker 4: and cons of buying a property versus using that fund
2:37
Speaker 4: for the share market. So should we tackle them together?
2:40
Speaker 1: Yeah?
2:40
Speaker 2: Absolutely. I was really scared when you said it's an
2:43
Speaker 2: ask anything and I've gone row and I was like,
2:45
Speaker 2: oh no, but now you're asking me about my bread
2:47
Speaker 2: and butter. So we're ready.
2:48
Speaker 4: So come back.
2:49
Speaker 2: You have one hundred thousand dollars saved and you're not
2:51
Speaker 2: sure where to invest it. I think you need to
2:54
Speaker 2: zoom out and have a think about what your values are, Like,
2:57
Speaker 2: is property actually something you want to be investing in,
3:00
Speaker 2: because it's a really big commitment. So you're going to
3:02
Speaker 2: buy property, there's going to be probably some stamp duty,
3:05
Speaker 2: some other fees and charges. Like there's a lack of
3:08
Speaker 2: flexibility there. I mean, I'm not selling it. I own
3:10
Speaker 2: a mortgage broken company, beck, so like I should be like, yeah,
3:13
Speaker 2: what you want to do? Go talk to a Zella
3:14
Speaker 2: money broker. But I think it is such a big
3:17
Speaker 2: commitment beck that I feel like you've got to know
3:20
Speaker 2: that you really want it before you get into it,
3:22
Speaker 2: because if you want to then get your money back,
3:25
Speaker 2: it's a hassle to get it back out. If we're
3:27
Speaker 2: comparing apples with apples, and you want to look at
3:30
Speaker 2: the investment market versus property in Australia, we know that
3:34
Speaker 2: the share market performs on average higher than the property market.
3:38
Speaker 2: But in saying that, if you're not passionate about the
3:41
Speaker 2: share market, why are you investing in it? Like if
3:43
Speaker 2: that's something that you're like, oh, I can't be bothered,
3:46
Speaker 2: but the fire in my belly is lit because of property,
3:49
Speaker 2: Like you're going to allocate more funds towards it, Like
3:51
Speaker 2: we spend money on the things that are of value
3:54
Speaker 2: to us. So it's not about which returns more. It's
3:58
Speaker 2: actually about what aligns your values, what you want to do.
4:00
Speaker 2: And I cannot tell you how to invest your hundred
4:03
Speaker 2: thousand dollars, but I think it's important to talk about
4:07
Speaker 2: they are two different asset classes and over your lifetime
4:11
Speaker 2: you're probably gonna want to have a bit of both.
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Speaker 2: So if you've got one hundred grand, is it for
4:15
Speaker 2: a home deposit. Is it for share market up to you? Okay,
4:21
Speaker 2: that was really diplomatic, I suppose, But I can't give
4:24
Speaker 2: that advice totally legally.
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Speaker 4: Probably need to like look at the person.
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Speaker 2: What I can tell you? Yeah, tell me don't invest
4:30
Speaker 2: it in a multi level marketing business.
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Speaker 4: Oh great advice.
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Speaker 2: Yes, yeah, okay, I can definitively say that that is
4:37
Speaker 2: a terrible idea across that off. Finally you're welcome.
4:40
Speaker 4: Okay, the next one. I actually always wondered about this too.
4:42
Speaker 4: So if multiple brokers offer a zero dollar initial fee
4:48
Speaker 4: in using multiple brokers.
4:49
Speaker 2: Do you know how many credit checks you're going to
4:52
Speaker 2: rack up?
4:53
Speaker 4: Of course I don't like that.
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Speaker 2: No neither. I don't like that credit checks on your
5:00
Speaker 2: account decrease your credit score over time, so we want
5:03
Speaker 2: to minimize those. But on top of that, let's say
5:06
Speaker 2: you want to go get a home loan with Bank
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Speaker 2: B and you're like, all right, Bank B, I really
5:11
Speaker 2: want to go and get a five hundred thousand dollars
5:13
Speaker 2: home loan. Then you have another broker working on that.
5:16
Speaker 2: It actually is submitted under you, Beck, so you are
5:20
Speaker 2: like personally identifiable. Another broker can't submit another deal to
5:24
Speaker 2: the same bank. Without intercepting that and ruining your chances,
5:28
Speaker 2: you're probably going to end up with a decline. I see.
5:31
Speaker 2: It becomes an admin nightmare for that bank and they
5:34
Speaker 2: don't like it. Also, a mortgage broker gets paid by
5:38
Speaker 2: the bank. So this is my business Zeller money and
5:41
Speaker 2: that's why I can offer services to our clients for free,
5:45
Speaker 2: which is the biggest money when ever, because we get
5:47
Speaker 2: paid by the bank when your property settles. It is
5:51
Speaker 2: so much work like we have a big team at
5:53
Speaker 2: Zella because not only are you talking to a broker,
5:56
Speaker 2: but you're talking to their CRM. You're then talking to
5:58
Speaker 2: our admin team in the backround. You then go into
6:01
Speaker 2: a settlements officer who's going to make sure that your
6:03
Speaker 2: process is as smooth as possible and that all the
6:07
Speaker 2: eyes are dotted and all the tea's across. We LaaS
6:10
Speaker 2: directly with your conveyancer to make sure that they're doing
6:13
Speaker 2: their job. But you're in the best possible position. We
6:15
Speaker 2: are answering all your questions along the way and making
6:18
Speaker 2: sure that you are feeling supported my brokers. Not that
6:22
Speaker 2: you should be calling your brokers after hours, but they
6:24
Speaker 2: answer the phone on the weekends. They answer the phone
6:26
Speaker 2: after hours. They do not want our clients to be stressed.
6:29
Speaker 2: That is a lot of time, energy and effort to
6:32
Speaker 2: be put in for something that then ultimately doesn't convert
6:35
Speaker 2: because you were playing the game. I see, like, I
6:38
Speaker 2: don't think it is fair. I do think that if
6:41
Speaker 2: you're on the fence, have an initial meeting with a broker, absolutely,
6:45
Speaker 2: but at the end of the day, work with someone
6:47
Speaker 2: that you resonate with, because if there is a right
6:50
Speaker 2: answer for your situation, both brokers should come to the
6:53
Speaker 2: same conclusion. Beck true, they should be, you know, analyzing
6:57
Speaker 2: it in a certain way and probably be putting the
6:59
Speaker 2: same bank forward. But it takes us a lot of work.
7:01
Speaker 2: It's not just like a quick half an hour meeting
7:03
Speaker 2: with a broker. Like in the background, we are doing
7:06
Speaker 2: so much work, so much research to make sure that
7:09
Speaker 2: you are in the best possible position. If you're doing
7:11
Speaker 2: that to multiple people, you're wasting their time and that
7:13
Speaker 2: is not cool.
7:14
Speaker 4: That's so true. I did notice that when my partner
7:16
Speaker 4: was buying a property, she was messaging them on Sunday,
7:19
Speaker 4: and I was like, are you allowed to do that?
7:21
Speaker 2: I know that you should obviously respect business hours and
7:25
Speaker 2: all of that, but like, if you're stressed and want
7:26
Speaker 2: that support, I want to hold your hand and make
7:28
Speaker 2: sure that you're in the best possible position. And I
7:31
Speaker 2: don't want my clients being stressed because they're like, oh
7:33
Speaker 2: my god, are we okay for settlement? Yeah, girl, of
7:35
Speaker 2: course we are. Like if that's all it takes out
7:37
Speaker 2: of our day, great, exactly.
7:39
Speaker 4: Okay, this next one's a good one for all of
7:41
Speaker 4: us in this cozy liv crisis.
7:43
Speaker 2: Yeah.
7:44
Speaker 4: So, hypothetically, I'm a stay at home mum looking to
7:48
Speaker 4: an extra income. Do you have any tips?
7:50
Speaker 2: I do multi level marketing.
7:52
Speaker 4: Let's take that out of context and put it on socials.
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Speaker 2: Yeah, actually, put it on a T shirt uneducated, which
7:58
Speaker 2: is what I'm going for. So do I have some
8:02
Speaker 2: tips and tricks? Yes. I want you to just stay
8:04
Speaker 2: vigilant and know that if it seems too good to
8:07
Speaker 2: be true, it probably is. There are so many opportunities
8:11
Speaker 2: that are going to be presented to you because you
8:14
Speaker 2: are a stay at home mum, because you are relatively
8:16
Speaker 2: vulnerable in this situation, because like the end of the day,
8:19
Speaker 2: you want to stay home with your kids, like, and
8:21
Speaker 2: I get that, Like, if you've decided that you need
8:23
Speaker 2: an extra income so that you can spend more time
8:26
Speaker 2: with them. And someone comes along and says, hey, back,
8:29
Speaker 2: so I've got this great business opportunity. You just sign up.
8:32
Speaker 2: Not hard for you to do three hundred bucks. You
8:34
Speaker 2: can make so much money on the side, and you
8:37
Speaker 2: can take your kids to the park whenever. You can
8:38
Speaker 2: work from wherever. Sounds great, doesn't it. But you need
8:41
Speaker 2: to stay vigilant. I would say in terms of earning
8:44
Speaker 2: extra income, air tasker is fantastic. Are there any tasks
8:48
Speaker 2: that you could pick up? And do you know, if
8:50
Speaker 2: it's a courier job, can the kids come with you?
8:52
Speaker 2: Can you you know, do a few things here and there.
8:55
Speaker 2: Are there any handicrafts that you can do, online surveys
8:58
Speaker 2: that you could do. Is there a way that you
9:01
Speaker 2: could get a work from home job, Like one of
9:03
Speaker 2: our community members has recently gotten a job as a
9:06
Speaker 2: medical transcriber.
9:08
Speaker 4: I was gonna say transcribing is pretty good.
9:09
Speaker 2: Yeah, it's pretty good, and she's earning so much money.
9:12
Speaker 2: She's only like forty five bucks an hour or something.
9:15
Speaker 2: It's good to transcribe medical records because they want to
9:18
Speaker 2: keep them on file. But she's like, it doesn't matter
9:20
Speaker 2: if I do that at nine am, or I'm doing
9:22
Speaker 2: it at nine pm, I do it when my kid
9:23
Speaker 2: is asleep, and they're fine with that. There are so
9:26
Speaker 2: many options out there that don't involve you ending up
9:30
Speaker 2: in a worse off situation. But I also need you
9:32
Speaker 2: to know that if you're looking for a way to
9:35
Speaker 2: earn extra income while still having that lifestyle as estate
9:38
Speaker 2: at her mum, there is always going to be some
9:40
Speaker 2: level of compromise, Like you can't have your cake and
9:43
Speaker 2: eat it too. And maybe this is going to sound tough.
9:46
Speaker 2: Maybe the realization is this is a season of life.
9:48
Speaker 2: I'm going to earn less right now while I'm focusing
9:51
Speaker 2: on my kids, and then once they're at school or
9:52
Speaker 2: once they're doing this, I can go back to earning
9:54
Speaker 2: an income. You don't actually need to do it all.
9:56
Speaker 2: I feel like there's this boss babe mentality online of like,
9:59
Speaker 2: if you're going to be a stay at home mum,
10:00
Speaker 2: you also need to be working on yourself and you
10:02
Speaker 2: also need to be having a side hustle. And if
10:04
Speaker 2: you don't get up at five am and go to
10:06
Speaker 2: the gym before the kids wake up, like what are
10:08
Speaker 2: you even doing? Absolutely insane unrealistic expectations being put on parents,
10:13
Speaker 2: Like if you want an extra income stream, great, let's
10:16
Speaker 2: find one for you, but don't do it because you're
10:18
Speaker 2: feeling the pressure because other people are doing it. Yeah.
10:21
Speaker 4: One also, don't forget clinical trials.
10:23
Speaker 2: Sometimes no clinical trials.
10:25
Speaker 4: Clinical trials, let's take that.
10:27
Speaker 2: You can do that one.
10:29
Speaker 4: That one, Okay, the sext one is a good one.
10:31
Speaker 4: I feel like I've said that four of them so far,
10:33
Speaker 4: but they're all good. It's about those golden nuggets of wisdom,
10:36
Speaker 4: your favorite advice from a mentor or person that you
10:39
Speaker 4: still use to this day.
10:41
Speaker 2: Like the advice or the person, because like I feel
10:43
Speaker 2: like mentors come and.
10:44
Speaker 4: Go true maybe both.
10:46
Speaker 2: If you have favorite advice, I feel like my dad
10:51
Speaker 2: is that lame. That's probably lame. That'squ welcome dad. So
10:54
Speaker 2: there's probably a few pieces of advice. The first one
10:57
Speaker 2: is honesty tempered with mercy. WHOA, So that is something
11:06
Speaker 2: that he's always said. Just because it's true doesn't mean
11:09
Speaker 2: you have to say it. So like you know, if
11:11
Speaker 2: something at work is happening and you know it's not working,
11:14
Speaker 2: like always just being like am I being kind in
11:17
Speaker 2: this moment? Or am I just saying it because I can.
11:20
Speaker 2: I think that's something that I've always taken, especially in
11:23
Speaker 2: Cheese on the money, Like we have to be honest
11:25
Speaker 2: because like, at the end of the day, I need
11:27
Speaker 2: to put you in a best possible position. But you
11:29
Speaker 2: don't need to crucify someone, like say you're firing someone
11:32
Speaker 2: and they're just not the right fit. But they've also
11:35
Speaker 2: been messing up a little bit and you've given them
11:37
Speaker 2: a few reasons as to why you don't need to
11:39
Speaker 2: double down and absolutely bury that person on the way out,
11:41
Speaker 2: Like that is not what you need to do. So
11:43
Speaker 2: like honesty because like people deserve the truth, but like
11:47
Speaker 2: sometimes you need to temper it with mercy. I think
11:49
Speaker 2: is really good. Yes, The second piece of advice my
11:52
Speaker 2: dad gave me was the best number of business partners
11:56
Speaker 2: is an odd number of less than three. And I
11:59
Speaker 2: really wish I had listened to him at the very start,
12:02
Speaker 2: because that essentially is him saying, don't have business partners.
12:06
Speaker 2: That sounds savage because I have had a few of
12:10
Speaker 2: them now, and upon reflection, I have always taken on
12:14
Speaker 2: a business partner because I didn't have the confidence that
12:17
Speaker 2: I could do it myself. I thought that I needed
12:20
Speaker 2: somebody else's support to be successful. I thought that I
12:23
Speaker 2: needed somebody else to hold my hand through that section.
12:27
Speaker 2: And the reality is, nobody knows my business is better
12:30
Speaker 2: than me. No one cares about my businesses more than me,
12:32
Speaker 2: No one cares about my mission more than me, and
12:35
Speaker 2: so then it should just be me. At the end
12:37
Speaker 2: of the day. My businesses are better off with me
12:41
Speaker 2: making those decisions because I do lead in a way
12:45
Speaker 2: that not everybody leads, and that's okay, But I think
12:48
Speaker 2: it's important to kind of back yourself. Like I think
12:52
Speaker 2: so often small business owners, especially women, they want to
12:56
Speaker 2: be in business. They want to do things because it
12:58
Speaker 2: sounds great, but they want someone to be alongside them
13:02
Speaker 2: for the ride, and sometimes that's not the best decision.
13:05
Speaker 4: Yeah, okay, great advice.
13:06
Speaker 2: I don't know if it's great advice savage advice. And
13:09
Speaker 2: also the last piece of advice that I got from
13:12
Speaker 2: a friend was just don't get up.
13:15
Speaker 4: God. I love that.
13:16
Speaker 2: Good advice.
13:17
Speaker 4: So easy as that. Yeah, great advice. V. Thank you.
13:20
Speaker 2: Okay, V.
13:21
Speaker 4: We're talking love and money at this point. Yeah, someone's
13:25
Speaker 4: asking for your thoughts on the importance of a prenup
13:28
Speaker 4: for couples. Considering marriage.
13:30
Speaker 2: I like that. So first things first, in Australia we
13:33
Speaker 2: don't have prenups. We have binding financial agreements which are similar,
13:37
Speaker 2: but also they can be disputed, so I think it's
13:42
Speaker 2: important to know that going in. But I also think
13:44
Speaker 2: that a prenup, like let's call it, that, is a
13:47
Speaker 2: good idea to make sure that you're on the same
13:49
Speaker 2: page going into a marriage. In saying that, it probably
13:53
Speaker 2: needs to happen prior to marriage, because if you're in
13:56
Speaker 2: a de facto relationship, you default to the same rules
13:59
Speaker 2: that apply to a married couple. So it's kind of
14:01
Speaker 2: the same thing anyway, Like if you moved in with
14:04
Speaker 2: your girlfriend and you met all of the you know,
14:06
Speaker 2: criteria for being a de facto couple, like, you're not
14:10
Speaker 2: treated that differently these days as a married couple is,
14:13
Speaker 2: so we do have to be quite careful. It also
14:16
Speaker 2: depends where you're starting from. Like if you're nineteen and
14:18
Speaker 2: you're young and in love and you've just gotten married
14:20
Speaker 2: and you have literally no money to your name, do
14:24
Speaker 2: you need a prenup? Probably not, because you haven't started
14:28
Speaker 2: the relationship with significant assets that need to be taken
14:31
Speaker 2: into consideration. But if you're on the flip side, and
14:35
Speaker 2: you know you're in your thirties, maybe it's your second marriage,
14:38
Speaker 2: and you have an inheritance from a parent or a
14:41
Speaker 2: grandparent that you want to make sure if you came
14:43
Speaker 2: out of that marriage was protected. Yes, absolutely, I think
14:46
Speaker 2: we need a binding financial agreement. I also think that
14:49
Speaker 2: it is really good practice to go into a relationship
14:55
Speaker 2: with a clear exit strategy. And that sounds terrible because like,
14:58
Speaker 2: no one wants their relationship to fall apart, but I agree.
15:01
Speaker 2: I didn't marry my husband because I want to divorce him.
15:04
Speaker 2: I married him because I wanted his babies and I
15:06
Speaker 2: want to be with him for the rest of my life.
15:08
Speaker 2: But being able to sit down together and talk about, well,
15:11
Speaker 2: what if this didn't work out, when we're both in
15:14
Speaker 2: the headspace of wanting the best for each other, is
15:17
Speaker 2: a really good outcome because that then becomes the fallback.
15:20
Speaker 2: So something might happen. We might be really salty at
15:23
Speaker 2: each other and don't even want to look at each other,
15:24
Speaker 2: but we have this document that says, well, this is
15:27
Speaker 2: how our assets will be divided up, this is how
15:29
Speaker 2: we would care for our children, this is how we
15:30
Speaker 2: would do this. Because we decided that when we actually
15:33
Speaker 2: wanted the best for each other. And I think that
15:35
Speaker 2: that's really nice. Yeah, So do I think you need one?
15:39
Speaker 2: Not necessarily, but do I think that you should talk
15:41
Speaker 2: about an excess strategy for your relationship? Absolutely, And it
15:45
Speaker 2: can be a little bit more bid, Like isn't that
15:46
Speaker 2: a bit weird to be? Like, you know, if I
15:48
Speaker 2: said to you and Jess, hey, so what if this
15:51
Speaker 2: doesn't work out, what you're going to do? Like you're like, oh, no,
15:53
Speaker 2: this is going to work out, But like you have
15:56
Speaker 2: to to put yourself in the best possible position, and like,
16:00
Speaker 2: especially for women, we end up with the raw end
16:03
Speaker 2: of the deal half the time. So like, what does
16:05
Speaker 2: that look like? How is your partner going to advocate
16:08
Speaker 2: for you? If you're hypothetically in this very stereotypical relationship.
16:13
Speaker 2: You're both mid twenties, you're planning on getting married and
16:16
Speaker 2: having kids, and it's very you know, heterosexual, Like, great,
16:22
Speaker 2: so are you going to take time off when your
16:24
Speaker 2: husband goes to work and you have kids. What's going
16:28
Speaker 2: to happen to your suberannuation, what's going to happen in
16:30
Speaker 2: the future. I think that we just need to prepare
16:32
Speaker 2: to make sure that everybody is treated equally.
16:35
Speaker 4: It's great advice. I actually I'm curious. Maybe it depends
16:37
Speaker 4: on the agreement, but does that protect your future assets
16:41
Speaker 4: or just like the current assets.
16:42
Speaker 2: No, so it protects current assets. Future assets are often
16:46
Speaker 2: seen as created together. Oh yeah, which is why. And
16:50
Speaker 2: I'm not a lawyer, so do not quote me, obviously.
16:52
Speaker 2: If you're going through this, speak to a lawyer. But
16:54
Speaker 2: it's why in a court of law, if a woman
16:56
Speaker 2: stays at home, the man's not automatically going to get
16:59
Speaker 2: all the money all the super Like. I have situations
17:02
Speaker 2: where community members that I've spoken to are like, I
17:05
Speaker 2: got sixty percent of his super You listen to it
17:08
Speaker 2: on money daries all the time because when you sit down,
17:12
Speaker 2: she took the hit for you having a career. The
17:15
Speaker 2: reason you had a career was somebody was backing you
17:17
Speaker 2: at home. Like, I think there's just this misconception that
17:22
Speaker 2: being a stay at home mum or not earning an
17:25
Speaker 2: income while your partner is means that you're not contributing
17:28
Speaker 2: when you are, And I think that we need to
17:31
Speaker 2: see it a little bit more equally.
17:33
Speaker 4: Completely agree.
17:34
Speaker 2: I think it's a really good time to just jump
17:36
Speaker 2: to a quick break, good idea.
17:37
Speaker 4: I'll get my questions in order, okay, and then we'll
17:39
Speaker 4: see more when we come back. More when we come back.
17:45
Speaker 4: Welcome back everyone. Today is a game show that's an
17:48
Speaker 4: ask me anything for strictly Victoria.
17:50
Speaker 2: I'm not going to win any money apparently, so I'm
17:53
Speaker 2: not sure where the game show part comes in. But
17:55
Speaker 2: I'm glad you're having fun back.
17:56
Speaker 4: I'm having so much fun. I feel like I've already won.
17:59
Speaker 4: You have one, okay, so this next one, I feel
18:02
Speaker 4: like you're gonna love this. So it is about multi
18:05
Speaker 4: level marketing. Oh, I am gonna love this. But I
18:07
Speaker 4: have been all of you Instagram lately, and I know
18:09
Speaker 4: you've been sharing your thoughts, so I do my thoughts. Well, yep,
18:13
Speaker 4: they are spicy thoughts. Honestly, it feels like it's been
18:16
Speaker 4: a full on solap opera and I've had my popcorn ready, so.
18:18
Speaker 2: I feel like so many people have too, Like I'm
18:21
Speaker 2: not done.
18:22
Speaker 4: I'm so excited. You even dropped a whole episode on
18:24
Speaker 4: the weekend about how dodgy MLMs can be. If you
18:27
Speaker 4: haven't heard one of those yet, go back to episodes.
18:30
Speaker 4: It was juicy. Do not want to miss it, So
18:32
Speaker 4: V tell me what are your thoughts.
18:34
Speaker 2: I hate multi level marketing to my coreback That's why
18:38
Speaker 2: I did a whole episode on it, and there are
18:39
Speaker 2: more to come. Like, I'm not done, I haven't stopped.
18:42
Speaker 2: I feel like this is a space that we need
18:46
Speaker 2: education on because the most eye opening thing after dropping
18:49
Speaker 2: that episode was that people that obviously weren't involved in
18:53
Speaker 2: multi level marketing, like I didn't realize that this was
18:56
Speaker 2: so awful. I didn't know this is how it worked.
18:59
Speaker 2: I had no idea. And that's fantastic for you, but
19:01
Speaker 2: you need to be educated because like if your friend's like, hey, Beck,
19:04
Speaker 2: I've got this great shampoo, uh, You're gonna fall into
19:07
Speaker 2: it and not know. So I think that as a community,
19:10
Speaker 2: we deserve the education. But then on the flip side,
19:13
Speaker 2: I see so much potential in these women and it's
19:15
Speaker 2: going to waste on businesses that aren't theirs. So obviously
19:20
Speaker 2: we did a whole episode. If you missed that, go
19:22
Speaker 2: and listen to that. But I have a juicy interview
19:24
Speaker 2: coming up. So doing all my research, I came across
19:27
Speaker 2: a woman called Emily Lynn Paulson. Oh my gosh, Beck,
19:30
Speaker 2: I'm obsessed. She has a book called hay Hunt. Okay,
19:34
Speaker 2: isn't that so cute? That is cute. That's how so
19:36
Speaker 2: many multi level marketing women start their conversations. They'll be like, oh, Heyhun,
19:41
Speaker 2: So I was watching your videos and I just thought, Beck,
19:44
Speaker 2: you're doing such a good job. Have you ever thought
19:46
Speaker 2: about the shampoo that you use? Like it actually kills me?
19:50
Speaker 2: So she's used that, just taken it back. And her
19:52
Speaker 2: book is called Hayhun Sales, Sisterhood, Supremacy, and the Other
19:55
Speaker 2: Lies behind multi Level Marketing. And when I saw her write,
19:59
Speaker 2: she made more than a million dollars in multi level
20:02
Speaker 2: marketing and has now flipped and been like that was toxic,
20:05
Speaker 2: that was awful. I'm so embarrassed. Yeah, in the first
20:09
Speaker 2: like ninety pages of her book she talks about white supremacy.
20:12
Speaker 2: She has gone hard, Like I have so much respect
20:16
Speaker 2: for her. But we have a juicy interview coming up,
20:18
Speaker 2: So if you want to hear more about multi level marketing,
20:21
Speaker 2: that's the one that you want to tune into.
20:23
Speaker 4: Oh my god, I'm so excited for that.
20:25
Speaker 2: I mean, I don't want to talk about anything apart
20:28
Speaker 2: from that. But that's okay. We've got more questions to
20:30
Speaker 2: get through. Yeah.
20:30
Speaker 4: Absolutely, we will get all the juicy, juicy, juicy details,
20:34
Speaker 4: I'm sure in that episode with Emily. Okay, so this
20:37
Speaker 4: next question you have is how to raise capital for
20:39
Speaker 4: a business idea I have Hypothetically it would require me
20:43
Speaker 4: to buy a bit of stock.
20:44
Speaker 2: Okay. So obviously there are lots of different ways to
20:49
Speaker 2: starting a business. There's bootstrapping. So bootstrapping is where you
20:53
Speaker 2: like take on every expense yourself, Like maybe you have
20:56
Speaker 2: another job and you're funding it on the side. Maybe
20:58
Speaker 2: you've got some savings' like, it's completely up to you.
21:02
Speaker 2: I get really suspicious when people say I need to
21:05
Speaker 2: raise capital for my business, because capital comes with a trade,
21:12
Speaker 2: and that trade is for usually equity in your business.
21:16
Speaker 2: And I am an advocate of women in particular owning
21:20
Speaker 2: one hundred percent of their asset. So if you're saying
21:23
Speaker 2: I really need to raise capital for a business idea,
21:26
Speaker 2: So capital is cash so that you can invest into
21:28
Speaker 2: your business. So do you want you know, if I said, hey, Beck,
21:31
Speaker 2: I'll give you one hundred grand for this business idea,
21:33
Speaker 2: but I want thirty percent of your business. If you're
21:36
Speaker 2: so invested in this business and you know it's going
21:38
Speaker 2: to be successful. Do you really want to sell out
21:40
Speaker 2: that early and lose that much percentage of your business
21:44
Speaker 2: before you've even begun right, Like some businesses you definitely
21:47
Speaker 2: need funding for, but like I want you to have
21:49
Speaker 2: dotted all your eyes, crossed all your teas and make
21:51
Speaker 2: sure that you're in the best possible position before you've
21:53
Speaker 2: done that. So have you done a full budget? Have
21:55
Speaker 2: you done a forecast for a full year of expenses,
21:58
Speaker 2: like all the way down to what is your website
22:00
Speaker 2: hosting fee going to be? What is shipping going to cost?
22:04
Speaker 2: You said you needed to buy stock. I'm assuming maybe
22:06
Speaker 2: just like a retail business, you're buying stock. What is
22:09
Speaker 2: the insurance going to cost to get that stock to
22:12
Speaker 2: your warehouse? What is the warehouse going to cost? Like,
22:14
Speaker 2: I want to know everything before you even think about
22:18
Speaker 2: going into business and raising capital. If you're raising capital
22:21
Speaker 2: and you don't have complete clarity on what that business
22:24
Speaker 2: is becoming, you are not ready to raise capital. Well, like,
22:27
Speaker 2: I just have a lot of thoughts about that. But
22:29
Speaker 2: then also have you looked into business grants? Oh?
22:33
Speaker 4: True?
22:34
Speaker 2: Is that an option? There is so much money out
22:36
Speaker 2: there and so many resources for small business owners to
22:39
Speaker 2: get grants. Grants are literally like winning the business lottery beck,
22:43
Speaker 2: Like the government is going to gift you some money
22:46
Speaker 2: just to help you with your business. If you pitch
22:47
Speaker 2: it properly right, that's a better deal than giving somebody
22:50
Speaker 2: else a cut of your business. Also, have you thought
22:54
Speaker 2: about maybe saving for a little longer, Like if you
22:57
Speaker 2: aren't ready to buite the bullet and you don't have
23:00
Speaker 2: capital to start the business, should you stay in your
23:02
Speaker 2: job a little bit longer, save a bit more, and
23:04
Speaker 2: start it a little bit later. Or Obviously I don't
23:07
Speaker 2: love debt, but business debt is an option. Could you
23:11
Speaker 2: go to a bank and get a loan so that
23:13
Speaker 2: you owe a bank money, pay that back and you
23:15
Speaker 2: still own one hundred percent of your business. So I
23:17
Speaker 2: think that there are a lot of thoughts and feelings
23:19
Speaker 2: I have. How would you then raise capital if you've
23:21
Speaker 2: decided there are lots of different ways. There is crowdfunding,
23:25
Speaker 2: There is you know angel investors, there is you know
23:28
Speaker 2: business brokers that could go out and help you raise that.
23:31
Speaker 2: There are heaps of options. But I would be trying
23:33
Speaker 2: to avoid raising capital at all costs. Before trying to
23:37
Speaker 2: raise capital, I think it should be the last thing
23:41
Speaker 2: that is.
23:42
Speaker 4: A lot to wrap my head around. But I'm sure
23:44
Speaker 4: if you're in the business of wanting to start a business.
23:47
Speaker 2: Yeah, please help me. Yeah, don't take people's cash holder
23:50
Speaker 2: unless you really, really really have to.
23:52
Speaker 4: Absolutely, that's great advice for me. God, I'm trying.
23:54
Speaker 2: I'm trying you. Actually, I'm actually a business owner who
23:57
Speaker 2: has had mulgeperience that has cost me hundreds, if not
24:01
Speaker 2: millions of dollars. Sure it of so yeah, don't do that.
24:04
Speaker 4: Yeah, Okay. This one is one that I'm sure most
24:07
Speaker 4: of our community have asked themselves. When should you see
24:10
Speaker 4: your financial advisor? Do you need to have a certain
24:11
Speaker 4: amount of savings or goals before you do well?
24:14
Speaker 2: It depends. And this is going to annoy all the
24:16
Speaker 2: financial advisors, so close your little ears. But not everybody
24:19
Speaker 2: needs a financial advisor. Sure, if you are somebody who
24:24
Speaker 2: wants some help on your goals and your investments and
24:27
Speaker 2: achieving them, then sure seeing a financial advisor will help.
24:30
Speaker 2: But there is the ability to do it yourself. I'm
24:33
Speaker 2: not saying it's the best option. It's kind of like
24:35
Speaker 2: getting a gym membership back, Like if I went and
24:37
Speaker 2: got a gym membership and you went and got a
24:38
Speaker 2: gym membership. I know you are so good at going
24:40
Speaker 2: to the gym, but if I had the gym membership,
24:42
Speaker 2: I'm not going because I don't have any accountability. So
24:46
Speaker 2: a financial advisor is kind of like a personal trainer
24:49
Speaker 2: in that they might get you in the gym, they
24:50
Speaker 2: might actually get you doing your program. They might actually
24:52
Speaker 2: get you investing and creating wealth and doing all of
24:55
Speaker 2: those things. Maybe you feel like you've got to the
24:58
Speaker 2: end of your dear why journey. You're investing, you're saving,
25:02
Speaker 2: you've got super you've got a property, and you're like like,
25:04
Speaker 2: maybe I need to take it to the next level.
25:06
Speaker 2: That is when you might want to see a financial advisor.
25:09
Speaker 2: Not everybody needs one, but if you're going to see one,
25:12
Speaker 2: I think it's important to have a lot of clarity
25:14
Speaker 2: around your goals because they're going to ask you. Like
25:17
Speaker 2: in my fact find meetings when I was a financial advisor,
25:20
Speaker 2: I want all the info like prior to the meeting,
25:22
Speaker 2: like what you earn, what you spend, what you own,
25:24
Speaker 2: what you owe. But then I want you to go,
25:26
Speaker 2: why are you here? What do you want from me?
25:27
Speaker 2: If you go, oh, I don't know. I just want
25:29
Speaker 2: to be better at money. That's really hard because I
25:33
Speaker 2: could have six million different outcomes for you depending on
25:37
Speaker 2: your goals. But if you don't have goals, am I
25:39
Speaker 2: picking your goals? Are you going to like? That? Probably
25:41
Speaker 2: not ideal. So before I saw a financial advisor, I
25:44
Speaker 2: would sit down. I would do a full budget because
25:46
Speaker 2: that's within your power. Like there is a free budget
25:49
Speaker 2: on our website that you can download at any time
25:51
Speaker 2: to do. I will do that for you for free. Literally,
25:54
Speaker 2: go and download it and do it. If you want
25:56
Speaker 2: to take it to the next level. We've got our
25:57
Speaker 2: money master class that is a really good thing to
26:00
Speaker 2: invest in. If you want to take your budget and
26:02
Speaker 2: your cash flow to the next level, you can do
26:04
Speaker 2: all of that. You can sit down, you can write
26:06
Speaker 2: down your goals, you can write down what you want
26:08
Speaker 2: to achieve. You can have a chat with your partner,
26:10
Speaker 2: you can zoom out, you can look at your super fund.
26:12
Speaker 2: You can call your super fund and have a chat
26:14
Speaker 2: to the advisors there for free because it's included in
26:17
Speaker 2: your super fees. Like, exhaust all of these options, I
26:21
Speaker 2: would say before seeing a financial advisor, and then when
26:23
Speaker 2: you decide I want to see financial advisor, that investment
26:26
Speaker 2: is going to be worth it. Yeah, that investment is
26:29
Speaker 2: going to help you be in the best possible financial position.
26:32
Speaker 2: But no, you don't need to have certain savings. You
26:34
Speaker 2: could have zero dollars to your name and seeing a
26:36
Speaker 2: financial advisor makes sense.
26:37
Speaker 4: It's comforting.
26:38
Speaker 2: Or you could have one hundred million dollars and seeing
26:41
Speaker 2: a financial advisor then makes sense. So it's not necessarily
26:45
Speaker 2: about how much money you have, but how much value
26:47
Speaker 2: you place on paying for advice.
26:49
Speaker 4: Okay, this one's a bit gzy. What are some financial
26:53
Speaker 4: decisions you've made in the past five years that you
26:55
Speaker 4: would change or that you regret.
26:58
Speaker 2: Oh, okay, lots To be honest, I am a very
27:02
Speaker 2: good impulse purchaser. What's a small one that I made
27:05
Speaker 2: this week? Are you ready? I am actually really embarrassed
27:07
Speaker 2: by this. So I got back to the office the
27:10
Speaker 2: other day after making this purchase and I said to
27:12
Speaker 2: my whole team, I am embarrassed. I cannot believe I
27:15
Speaker 2: just did this. I bought a dress last weekend for
27:19
Speaker 2: two hundred and fifty dollars from chic. I really wanted it.
27:22
Speaker 2: I have had my eye on it. Whatever bought the dress.
27:26
Speaker 2: I am really short, so that dress needs to be
27:28
Speaker 2: taken up, and I just in my head thought that's
27:32
Speaker 2: not that expensive. So I went down to the tailor
27:35
Speaker 2: and she's like, put the dress on Norri's. She marks
27:38
Speaker 2: it all up for it being taken up, and I'm like, yep, Crogel,
27:40
Speaker 2: no worry's going to go to the checkout beck one
27:42
Speaker 2: hundred and sixty five dollars. It is a cotton dress, Like,
27:46
Speaker 2: I don't think it's that complicated anyway, one hundred and
27:49
Speaker 2: sixty five dollars. And the regret I have is that
27:52
Speaker 2: I just didn't say anything. I felt sick. There was
27:55
Speaker 2: somebody behind me waiting in the line, and I didn't
27:59
Speaker 2: want to like student.
28:00
Speaker 4: And totally can't.
28:02
Speaker 2: I in that moment was like, but I am, she's
28:04
Speaker 2: on the money. I should be questioning this, Like I
28:06
Speaker 2: just want to get out of this situation. Got back
28:09
Speaker 2: to the office. I regret that. I don't know if
28:12
Speaker 2: I regret any of the really, really big mistakes. So
28:14
Speaker 2: when I was twenty two, I took out a forty
28:16
Speaker 2: thousand dollar personal loan so that I could buy a car,
28:20
Speaker 2: I could travel to France and study, and I could
28:23
Speaker 2: go on a holiday. In hindsight, I wish I had
28:26
Speaker 2: better financial literacy so that I didn't make that decision,
28:29
Speaker 2: But I feel like me being in that debt was
28:33
Speaker 2: pivotal to creating my career and actually valuing money more.
28:38
Speaker 2: I feel like I needed that kickup the butt. I
28:41
Speaker 2: needed that stress, I needed that anxiety. I needed to
28:43
Speaker 2: go through that to grow through that in a way.
28:47
Speaker 2: And I don't think that today I would be as
28:49
Speaker 2: good at managing my finances if I didn't have something
28:53
Speaker 2: like that that puts significant pressure on me. No one
28:55
Speaker 2: deserves to be in that amount of debt. But at
28:58
Speaker 2: the same time, I don't regret it. I know at
29:02
Speaker 2: the time I was doing the best that I could
29:04
Speaker 2: with the tools and the reaci I had. So are
29:07
Speaker 2: there big things that I would regret, Sure, But I
29:11
Speaker 2: think the things that other people regret might not be
29:15
Speaker 2: my regrets. It's personal, right, Absolutely, it's personal.
29:18
Speaker 4: We all on our own journey.
29:19
Speaker 2: Do I regret that one hundred and sixty five dollars
29:21
Speaker 2: tailor charge. Absolutely, I'm still embarrassed by it, but that's okay.
29:26
Speaker 4: You come to me next time I chop it off.
29:27
Speaker 2: See, I feel like the dress would look better just hacked.
29:30
Speaker 4: At this point, it looks cool, But now what.
29:33
Speaker 2: Am I going to go do? Pick it up and
29:34
Speaker 2: then wear it and just always be annoyed by it.
29:37
Speaker 2: I don't know how this is going to pan out.
29:38
Speaker 4: No money comes and goes.
29:40
Speaker 2: You say that. Now, I do have my own questions,
29:44
Speaker 2: but you've got your own questions. I'm ready.
29:45
Speaker 4: They're not educational, they're not money.
29:47
Speaker 2: I feelated if you're asking them, I'm scared, but also
29:51
Speaker 2: probably the community of thinking them as well. So what
29:53
Speaker 2: are they?
29:54
Speaker 4: Okay, And you don't have to answer it.
29:55
Speaker 2: It is I like how you're prefacing it. But also
29:57
Speaker 2: this is an AMA and I'm great.
30:00
Speaker 4: Yeah, I want to know what your first email address?
30:02
Speaker 2: Okay, it was pink Cotton Candy underscore xx at hotmail
30:05
Speaker 2: dot com.
30:06
Speaker 4: Oh that's not too bad. Actually, if you still had.
30:08
Speaker 2: That, that makes it. I don't I mean you could
30:10
Speaker 2: email it. I don't know the log in. Yeah, like,
30:14
Speaker 2: I don't know the password. I don't even know how
30:16
Speaker 2: to recover that. But yeah, pink Cotton Candy underscore xx and.
30:20
Speaker 4: That was candy. Why I don't know that really paints
30:23
Speaker 4: a picture of your teenage self.
30:25
Speaker 2: Yeah, it does, just it you don't want to know
30:27
Speaker 2: her she was interesting.
30:29
Speaker 4: Okay, the next one is really short and sweet. You
30:30
Speaker 4: have any tattooes?
30:31
Speaker 1: Oh?
30:31
Speaker 2: Yes I do, I should, Yes, I do. I have
30:33
Speaker 2: two tattoos. They're both on my face. They are my eyebrows.
30:36
Speaker 2: That is it?
30:37
Speaker 3: Oh?
30:38
Speaker 2: Really? Yeah? Incredible? Yeah, I am too scared to get
30:44
Speaker 2: a tattoo, not because of the pain, but because like
30:48
Speaker 2: what if I changed my mind?
30:49
Speaker 4: Yeah, that's fair.
30:50
Speaker 2: I changed my mind all the time. Like I am
30:53
Speaker 2: so noncommittal, like I love the idea of a tattoo,
30:57
Speaker 2: but also like, oh, I don't know where i'd put it.
31:00
Speaker 2: How do you even pick where you put your first tattoo?
31:02
Speaker 2: And then I'm a creature of like balance, so like
31:05
Speaker 2: if I get one on my left arm, do I
31:06
Speaker 2: have to get one to match all my right arm?
31:08
Speaker 1: Like?
31:08
Speaker 2: Oh the anxiety?
31:10
Speaker 4: My first one was on my bum cheek. Maybe I
31:11
Speaker 4: need to get on the other one now maybe? Okay?
31:13
Speaker 2: And then if I had a tattoo, what do you
31:15
Speaker 2: think it would have been if you had a tattoo? Yeah,
31:18
Speaker 2: that wasn't my eyebrows. Wasn't your eyebrows even count? I
31:22
Speaker 2: don't know, I think they count.
31:23
Speaker 4: Okay, I think it's really really cool okay, so I
31:26
Speaker 4: would think you would get.
31:29
Speaker 2: You think I would have a tramp stamp. Don't you
31:31
Speaker 2: use like an angel or something?
31:33
Speaker 4: I think juicy just above your butt crack.
31:37
Speaker 2: Oh, I will put that in the suggestions box.
31:42
Speaker 4: Thank you if you could actually get that done.
31:45
Speaker 2: Do you know what again, suggestions box will come back
31:47
Speaker 2: to it perfect.
31:49
Speaker 4: I just really quickly want to know your favorite color.
31:50
Speaker 2: My favorite color?
31:52
Speaker 4: No black, no blue, no, I actually can't think of
31:58
Speaker 4: a single other color.
32:00
Speaker 2: Like orange.
32:01
Speaker 4: Oh, she's an orange girl.
32:02
Speaker 2: I really like orange, like but like more erring on
32:04
Speaker 2: the side of like the yellow orange, like you know
32:06
Speaker 2: that like verve clicko orange, like that champagne color. I
32:10
Speaker 2: just feel like that is like so happy, just a
32:14
Speaker 2: happy color like pink. Yeah, cool, Like I like pink,
32:17
Speaker 2: it's the brand colors. But like you just look at
32:20
Speaker 2: like a bright orange yellow and you go, that's happy.
32:22
Speaker 2: I like, yeah, that's my favorite.
32:24
Speaker 4: Yeah okay, And then this one is not for me.
32:27
Speaker 4: We're back on the money.
32:28
Speaker 2: So we've gone from email addresses back to money questions.
32:30
Speaker 2: I like it.
32:31
Speaker 4: Okay, So what's yours and Steve's next financial goal and
32:35
Speaker 4: what is a financial decision you'll make outside the norm
32:38
Speaker 4: in the next few months.
32:39
Speaker 2: Outside the norm. Okay, I feel like those are two
32:42
Speaker 2: different questions. So what is our next financial goal? So
32:48
Speaker 2: full clarity, we currently have two mortgages and we would
32:53
Speaker 2: like to extinguish one of those mortgages because the idea
32:56
Speaker 2: of being in seven figures of debt is really ANXI inducing.
33:00
Speaker 2: I really don't like it. So we are trying to
33:03
Speaker 2: smash down one of those. We don't have any other
33:06
Speaker 2: big spends. I think that we've been through that season
33:09
Speaker 2: in our lives, like we have gotten married. That was
33:11
Speaker 2: a big one. We bought our first home. We were
33:15
Speaker 2: lucky enough to have enough equity in our first home
33:17
Speaker 2: to buy our second property. So now I think it's
33:20
Speaker 2: about settling down. I mean, I know that we want
33:23
Speaker 2: to go on some more family holidays, but we went
33:25
Speaker 2: on a big europe trip and so now we're kind
33:28
Speaker 2: of like, oh, like I don't really want to do that.
33:30
Speaker 2: I want to do it again, but like, financially, it's
33:32
Speaker 2: just to us not a responsible use of our funds.
33:36
Speaker 2: And I also, being completely transparent, sold down a lot
33:39
Speaker 2: of my share portfolio to buy back the rest of
33:44
Speaker 2: Zella money. So you know, a lot of people have
33:46
Speaker 2: probably seen that I am now the again sole owner.
33:50
Speaker 2: I had a business partner for a period of time.
33:52
Speaker 2: I don't I would really like to bump all of
33:54
Speaker 2: those investing dollars back up because I sold them down
33:58
Speaker 2: so that I could purchase a business partner out. And
34:00
Speaker 2: that's fine, that makes sense, and I was very grateful
34:03
Speaker 2: to be in a situation where I could do that.
34:05
Speaker 2: But yeah, I would like to get our investments back
34:08
Speaker 2: on track because they definitely took a hit. And then
34:11
Speaker 2: what is a financial decision that will make outside the norm?
34:14
Speaker 2: I don't know if we'll make a financial decision that's
34:16
Speaker 2: super outside the norm. We are currently landscaping, is that
34:20
Speaker 2: the right word? Like we're doing our front yard, and
34:22
Speaker 2: we got some big quotes back that I didn't anticipate
34:27
Speaker 2: to do that, Like they were between fifty and seventy
34:29
Speaker 2: thousand dollars for a front yard, and I just thought
34:31
Speaker 2: that was a lot of money. So we'll probably spend
34:34
Speaker 2: I don't know, maybe forty thousand dollars on our front
34:36
Speaker 2: yard because it needs a whole driveway, so it's not
34:38
Speaker 2: just like landscaping, Like we actually need to move the
34:42
Speaker 2: entrance to our house, which is quite Spano.
34:45
Speaker 4: It's a big one.
34:46
Speaker 2: Yeah, that's probably a big expense that's coming up. But
34:49
Speaker 2: we've also been talking about it because we bought that
34:51
Speaker 2: house in twenty twenty, so this has been in the
34:53
Speaker 2: works for the last four years.
34:55
Speaker 4: I see.
34:55
Speaker 2: So I don't want people thinking, oh, V just has
34:58
Speaker 2: you know, cash sitting around, because I also think, following
35:01
Speaker 2: onto that, that there is a very big misconception that
35:04
Speaker 2: I earn heaps and heaps and heaps of money and
35:07
Speaker 2: we are very comfortable. Please don't get me wrong, but
35:10
Speaker 2: we also do budget and cash flow. And when I
35:13
Speaker 2: say I love budgeting and cash flow, like I do
35:16
Speaker 2: it for us every single month, like I'm on top
35:19
Speaker 2: of that, and most of the income that she's on,
35:23
Speaker 2: the money and Zella money make get reinvested back into
35:26
Speaker 2: the business. And I want to be as transparent about
35:29
Speaker 2: that at the same time as being a little bit
35:31
Speaker 2: protective of that. Yeah, And the reason I want to
35:34
Speaker 2: be protective of it is not because I'm embarrassed by it,
35:36
Speaker 2: like in fact, my whole team know what I earn
35:38
Speaker 2: and what I do, because I think being transparent is important.
35:41
Speaker 2: But I am an outlier in this space. I'm not
35:46
Speaker 2: employed by somebody. I control my income and I'm a
35:50
Speaker 2: business owner of multiple businesses, So do I earn a
35:53
Speaker 2: lot of money, yes, in comparison to what the average
35:56
Speaker 2: income of an Australian is. I don't think that by
36:02
Speaker 2: sharing my income with the community it actually helps you
36:06
Speaker 2: or inspires you, because I'm not speaking most of the
36:08
Speaker 2: time to other business owners where that's aspirational, and speaking
36:11
Speaker 2: to people who are earning normal salaries who need me
36:15
Speaker 2: to be an advocate, not somebody who's completely unrelatable, right,
36:18
Speaker 2: And so my view on that is that it's not
36:22
Speaker 2: constructive for the community to share that. But I have
36:25
Speaker 2: shared how I budget, what I do, the templates like,
36:28
Speaker 2: I will give you absolutely everything to be successful, and
36:32
Speaker 2: I will be honest about you know where I can,
36:35
Speaker 2: what I'm spending and what I'm earning. But I just
36:38
Speaker 2: think that by sharing a number, it doesn't really give
36:43
Speaker 2: you anything in exchange except for answering something pervy that
36:49
Speaker 2: doesn't really contribute to the success of our community.
36:52
Speaker 4: Sure completely agree?
36:53
Speaker 2: Is that weird? No?
36:54
Speaker 4: Not all, even though I am always curious about the
36:57
Speaker 4: little nitty gritty details. Yeah, what's that doing? We don't
37:00
Speaker 4: need it? I know if you hear that. That's the buzzer.
37:04
Speaker 2: Oh we could edit one in in post if we could.
37:07
Speaker 4: That would be lovely.
37:08
Speaker 2: That was a nice buzzer.
37:09
Speaker 4: What wow, that was allowed? Oh geez, really nostalgic. Time's
37:15
Speaker 4: up for today's episode of Ask v Anything. We've battled
37:18
Speaker 4: through your questions and we've all just won the grand prize.
37:20
Speaker 4: Better financial knowledge? Is that? Better financial knowledge?
37:23
Speaker 2: You do know my email address that I can't access
37:26
Speaker 2: and we're in cotton Candy underscore xx if anybody would
37:30
Speaker 2: like to slide into my emails which nobody.
37:32
Speaker 4: Checks, and we need to go fund me for your
37:34
Speaker 4: next tattoo.
37:35
Speaker 2: That is true. That is true. We can again talk
37:38
Speaker 2: about that at a later day.
37:40
Speaker 4: Really, Okay, don't worry.
37:41
Speaker 2: This is not the end of the game, isn't it.
37:44
Speaker 2: Oh No, apparently we're waiting for the next one. So
37:48
Speaker 2: I guess if you want to do more, AMAS, make
37:50
Speaker 2: sure that you're checking in on our Instagram because that's
37:53
Speaker 2: where we drop all of the callouts and the questions
37:55
Speaker 2: for episodes like this. And also I get the opportunity
37:58
Speaker 2: to rant about multi level much. Yeah, so that is
38:02
Speaker 2: really fun. Anyway, this has been kind of fun. Yeah,
38:04
Speaker 2: I don't hate it, we can do it again, but
38:07
Speaker 2: till then, we'll see you on Friday for a Friday
38:09
Speaker 2: episode and we hope that you have the best week.
38:11
Speaker 4: Bye guys.
38:18
Speaker 2: The advice shared on She's on the Money is general
38:21
Speaker 2: in nature and does not consider your individual circumstances. She's
38:24
Speaker 2: on the Money exists purely for educational purposes and should
38:28
Speaker 2: not be relied upon to make an investment or financial decision.
38:32
Speaker 2: If you do choose to buy a financial product, read
38:34
Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards
38:38
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